Progress Software director awarded 5,857 stock units
King Samskriti reported acquisition or exercise transactions in this Form 4 filing.
Rhea-AI Filing Summary
King Samskriti reported acquisition or exercise transactions in this Form 4 filing.
Progress Software director Samskriti King received an equity award of 5,857 deferred stock units of common stock at a reference price of $38.42 per unit as the fiscal 2026 equity retainer for board service. These units vest on the date of the Company’s 2027 Annual Meeting of Stockholders, subject to continued board service, and are payable one-for-one in common stock upon a change in control or when the director leaves the board. Following this award, King directly holds 51,116 shares/units linked to Progress Software common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
Grant/Award: 5,857 shares
Grant/Award
1 txn
Insider
King Samskriti
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 5,857 | $38.42 | $225K |
Holdings After Transaction:
Common Stock — 51,116 shares (Direct)
Footnotes (1)
- F1. Represents deferred stock units issued to the Reporting Person by Progress Software Corporation (the "Company") as the fiscal year 2026 equity retainer for the Reporting Person's services as a director of the Company during such period. These deferred stock units were issued in accordance with the Company's Director Compensation Plan pursuant to the Company's 2008 Stock Option and Incentive Plan and are payable on a one-for-one basis exclusively in common stock on the earlier of a change in control of the Company or the date the Reporting Person terminates service on the board of directors of the Company (the "Board of Directors"). The deferred stock units will vest on the date of the Company's 2027 Annual Meeting of Stockholders, subject to the Reporting Person's continued service on the Board of Directors until such date.
Key Figures
Deferred stock units granted: 5,857 units
Grant reference price: $38.42 per unit
Total holdings after transaction: 51,116 shares/units
+2 more
5 metrics
Deferred stock units granted
5,857 units
Fiscal 2026 equity retainer for director service
Grant reference price
$38.42 per unit
Transaction price per share for the award
Total holdings after transaction
51,116 shares/units
Direct ownership following the reported grant
Vesting event
2027 Annual Meeting of Stockholders
Units vest on meeting date with continued service
Payout triggers
Change in control or board departure
Deferred units payable in common stock upon these events
Key Terms
deferred stock units, equity retainer, Director Compensation Plan, 2008 Stock Option and Incentive Plan, +2 more
6 terms
deferred stock units financial
"Represents deferred stock units issued to the Reporting Person by Progress Software Corporation"
Deferred stock units are promises from a company to give an employee shares of stock at a future date, often after certain conditions are met or after leaving the company. They function like a form of delayed compensation, allowing employees to earn shares over time. For investors, they represent potential future ownership in the company, but do not provide immediate voting rights or dividends until the shares are actually received.
equity retainer financial
"as the fiscal year 2026 equity retainer for the Reporting Person's services as a director"
Director Compensation Plan financial
"issued in accordance with the Company's Director Compensation Plan pursuant to the Company's 2008 Stock Option and Incentive Plan"
2008 Stock Option and Incentive Plan financial
"pursuant to the Company's 2008 Stock Option and Incentive Plan and are payable on a one-for-one basis"
change in control financial
"payable on a one-for-one basis exclusively in common stock on the earlier of a change in control of the Company"
A "change in control" occurs when the ownership or management of a company shifts significantly, such as through a merger, acquisition, or sale of a large part of its assets. This change can impact how the company is run and may influence its future direction. For investors, it matters because it can affect the company's stability, strategy, and value, often signaling potential changes in investment risk or opportunity.
Annual Meeting of Stockholders financial
"will vest on the date of the Company's 2027 Annual Meeting of Stockholders"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Progress Software (PRGS) director Samskriti King receive in this Form 4?
Director Samskriti King received 5,857 deferred stock units tied to Progress Software common stock as a fiscal 2026 equity retainer for board service, issued under the company’s Director Compensation Plan and 2008 Stock Option and Incentive Plan.
How and when do Samskriti King’s new PRGS deferred stock units vest?
The 5,857 deferred stock units will vest on the date of Progress Software’s 2027 Annual Meeting of Stockholders, provided Samskriti King continues serving on the company’s board of directors through that meeting date.
What is Samskriti King’s Progress Software (PRGS) holding after this grant?
After this equity award, Samskriti King directly holds 51,116 shares/units linked to Progress Software common stock, according to the Form 4, reflecting total direct ownership following the reported transaction.
At what price were Samskriti King’s PRGS deferred stock units valued in the grant?
The 5,857 deferred stock units were granted at a reference price of $38.42 per unit, which is shown as the transaction price per share for the common stock tied to the award in the Form 4.
AI-generated analysis. How Rhea-AI works. Not financial advice.
